Southwest Airlines shareholders puzzled by Elliott's activism can look to past campaigns for insight
Publishing timestamp: 2024-07-06 12:00:01
Summary
Elliott Management's $1.9 billion stake in Southwest Airlines has led to confusion and concern among investors and customers. The hedge fund is pushing for changes at the airline, including firing the CEO and ousting the Chairman. Southwest has taken steps to defend itself, including adopting a poison pill. Elliott's past campaigns at companies like Suncor and Marathon offer insight into their strategy. Despite potential challenges, history shows that Elliott-targeted companies tend to outperform the market. Southwest's unique culture and union influence may present hurdles for Elliott's campaign.
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Keywords: mergers and acquisitions, marathon petroleum corp, norfolk southern corp, activism, breaking news: business, transportation, texas instruments inc, southwest airlines co, reddit inc, bank of america corp, business news, airlines, artisan partners asset management inc, breaking news, marc benioff, exxon mobil corp, salesforce inc, business, etsy inc, capital southwest corp, suncor energy inc, pinterest inc,
Source: https://www.cnbc.com/2024/07/06/southwest-elliott-history-settlement-proxy-fight.html